New rear brake pads on drivers side smells like it is burning

You will need a special tool for the back brakes,Autozone will loan it to you for 60 bucks,you will get it back when you return,I used it.I replaced brake pads front and back and both back rotors.The driver side rear had metal on metal,all disc brakes,brake pads on that rear side were completely worn down to metal,the driver side was like new,kept wondering why,replaced both rear rotors,put back together,then then I noticed where brake line hose went into brake caliber was leaking,so that caused the side with new like brake pads not to be gripping disc putting all brake pressure of that one side,so the copper fitting their was bad,put new one on and leak stopped.

pull off wheel and check brake pads low,caliper sticking ,or debris -if brakes look good than check hub-wheel bearing----- may be going bad

This happens often on Fieros. It turns out that the clamp that holds the brake hose rusts. The rust presses against the hose, restricting it's flow. You don't notice when the brakes are worn and basically not working, but after repairs you get locked up or overheated brakes. Remove or replace clamp and or hose.

The rear brakes last a long time since 80% of braking is on the front wheels. This helps keep the car in a straight line in hard braking where the front wheel lock up. The rear wheels keep rolling to keep the car in a straight line much like a fin on a rocket keep its path straight through the air. If you have never changed the rear brakes then it is time to check it. The squeak is caused by a device mounted is such a way so that it touches the brake disk when the pad wears to a certain point. Letting you know it is time for a new pad.

Sounds like a broken bearing. If your wheel is beginning to wobble it will make contact with the brake shoes and this will them very hot to the point of giving off a burning smell

Remove the wheel, and inspect the brakes you might find that they are down to metal meaning all the stopping material is worn off or the warning indicator is touching the rotor causing the squeal and telling you its time to replace the brake pads

Your caliper is hanging up and can be freed by removing it and grind or chip away the rust on the guides.

you need to grease the metal clips at the top and bottom of the pads (dont get grease on the rotor or pad though) and also spray some "disc brake quiet" on the back of the pads. it comes in a red can and the spray that comes out is like sticky red paint. do those 2 things and the squeals will be gone.

if you have disc brakes you may just have worn out the pads, the squeaking would be the "squealer", the locking up could be the caliper piston being forced out by the brake booster (when shifting), which would make sense if it's a disc system. If that be the case, a new brake pad would be the solution, assuming you haven't worn the rotor out already.

cheap pads will squeak or it might need to be backed off on the adjustment